Investing.com - The Australian dollar edged lower against its U.S. counterpart on Wednesday, as investors remained cautious ahead of the minutes of the Federal Reserve's most recent policy meeting.
AUD/USD hit 0.8902 during late Asian trade, the session low; the pair subsequently consolidated at 0.8915, slipping 0.12%.
The pair was likely to find support at 0.8843, the low of January 2 and resistance at 0.8982, the high of January 6.
The greenback found support after data on Tuesday showed that the U.S. trade deficit shrank to the lowest level in four years in November as exports rose to a record high.
But investors remained focused on the minutes of the Fed’s December meeting, due for release later Wednesday, for indications on the possible timing of further reductions in the bank’s stimulus program.
Investors were also eyeing Friday’s U.S. nonfarm report for December for indications of the strength of the recovery in the labor market.
The Aussie was lower against the euro, with EUR/AUD adding 0.15% to 1.5276.
Later in the day, the U.S. was to release the ADP report on private sector job creation.
AUD/USD hit 0.8902 during late Asian trade, the session low; the pair subsequently consolidated at 0.8915, slipping 0.12%.
The pair was likely to find support at 0.8843, the low of January 2 and resistance at 0.8982, the high of January 6.
The greenback found support after data on Tuesday showed that the U.S. trade deficit shrank to the lowest level in four years in November as exports rose to a record high.
But investors remained focused on the minutes of the Fed’s December meeting, due for release later Wednesday, for indications on the possible timing of further reductions in the bank’s stimulus program.
Investors were also eyeing Friday’s U.S. nonfarm report for December for indications of the strength of the recovery in the labor market.
The Aussie was lower against the euro, with EUR/AUD adding 0.15% to 1.5276.
Later in the day, the U.S. was to release the ADP report on private sector job creation.